Titan Minerals Ltd (ASX:TTM) has encountered further shallow high-grade gold-silver mineralisation outside the current resource during a drilling program at the Cerro Verde prospect within the 100%-held Dynasty Gold Project in southern Ecuador.
A total of 15 diamond holes have been completed for 3,796 metres to test the Brecha-Comanche, Resbolosa and Kaliman targets at Cerro Verde.
The exploration company recently published a mineral resource estimate for Dynasty comprising 43.54 million tonnes at 2.23 g/t gold, 15.7 g/t silver for 3.12 million ounces of gold and 21.98 million ounces of silver.
Shallow gold
Highlight intercepts from drilling between the Brecha-Comanche and Kaliman porphyry targets include:
CVDD23-106
- 12.96 metres at 3.39 g/t gold, 18.46 g/t silver from 96.04 metres, including 5.58 metres at 6.43 g/t gold, 29.22 g/t silver from 96.04 metres; and
- 2.85 metres at 6.03 g/t gold, 7.95 g/t silver from 128.15 metres, including 0.3 metres at 55.7 g/t gold, 3.64 g/t silver from 128.15 metres.
Drilling at the Resbolosa target, meanwhile, extended gold mineralisation from shallow depths, with results such as:
CVDD23-103
- 5.75 metres at 1.55 g/t gold, 2.38 g/t silver from 50.13 metres; and
- 2.03 metres at 2.63 g/t gold, 17.53 g/t silver from 78.77 metres.
CVDD23-105
- 4.00 metres at 2.20 g/t gold, 15.72 g/t silver from 130.0 metres.
At the Kaliman target, the work program has revealed further broad zones of anomalous epithermal gold mineralisation from shallow depths, with the best results showing:
KLDD23-007
- 3.87 metres at 1.06 g/t gold, 7.13 g/t silver from 25.13 metres; and
- 1.94 metres at 2.61 g/t gold, 4.42 g/t silver from 76.06 metres.
Core sample from CVDD23-105 showing brecciated rock with irregular quartz veinlets (left). Sample from CVDD23-106 showing mineralised vein with pyrite and sphalerite sulphide mineralisation (right).
Room for expansion
“These latest drill results further demonstrate the opportunity to substantially grow the epithermal gold-silver system at Dynasty, with additional shallow high-grade gold intersected at Cerro Verde,” Titan chief executive officer Melanie Leighton said.
“There are several areas along the Dynasty 9-kilometre vein system that have never been explored nor drilled, representing an excellent growth opportunity.
“The company has recently gained access to these new unexplored areas, and exploration workstreams are being deployed, which are expected to unveil the potential for further shallow vein-hosted gold mineralisation.
“We expect several new targets to be defined from the surface mapping and geochemistry programs currently underway, with drilling to test these targets set to commence in early September,
“We are looking forward to solid news flow and exciting drill results in the coming months and will be targeting a resource upgrade in Q1 2024 following completion of our first phase of resource growth drilling.”
Forward plan
Titan has outlined several priority areas for Dynasty in the immediate term.
Notably, the company intends to determine the ultimate size of the mineral system by conducting drill tests for lateral and vertical extensions of the currently defined 9-kilometre strike.
Resource growth is another key goal and this involves incorporating new areas into the resource estimate such as the Cerro Verde and Iguana prospects.
Drill programs are also being planned to target high-grade extensions at Papayal and Trapichillo.
These areas have revealed multiple parallel and branching veins with significant quantities of high-grade gold and silver, characterised by textures typical of low-sulphidation, boiling zone environments.
Meanwhile, surface soil geochemical sampling and mapping efforts are in progress at Papayal and Trapachillo.
A gradient-array IP survey is being conducted to aid in mapping and targeting sulphide-rich veins at various depths, including those concealed by vegetation and soil cover.
The company is also initiating initial mine feasibility studies and baseline work to lay the groundwork for potential standalone development options, which encompass open pit and underground mining scenarios, along with on-site mineral processing.
Dynasty Project displaying simplified geology and prospect locations.